Kinder Morgan, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Declares Quarterly Cash Dividend Payable on February 18, 2014; Provides Dividend Guidance for 2014
January 15, 2014 at 09:05 pm
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Kinder Morgan, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenues of USD 3,872 million compared to USD 3,079 million a year ago. Operating income was USD 1,160 million compared to USD 965 million a year ago. Income from continuing operations before income taxes was USD 773 million compared to USD 450 million a year ago. Income from continuing operations was USD 706 million compared to USD 476 million a year ago. Net income was USD 704 million compared to USD 488 million a year ago. Net income attributable to the company was USD 338 million compared to USD 220 million a year ago. Basic and diluted earnings per class P shares from continuing operations was USD 0.33 compared to USD 0.21 a year ago. Total basic and diluted earnings per common share was USD 0.33 compared to USD 0.21 a year ago. Sustaining capital expenditure was USD 148 million compared to USD 161 million a year ago.
For the year, the company reported revenues of USD 14,070 million compared to USD 9,973 million a year ago. Operating income was USD 3,990 million compared to USD 2,593 million a year ago. Income from continuing operations before income taxes was USD 3,438 million compared to USD 1,343 million a year ago. Income from continuing operations was USD 2,696 million compared to USD 1,204 million a year ago. Net income was USD 2,692 million compared to USD 427 million a year ago. Net income attributable to the company was USD 1,193 million compared to USD 315 million a year ago. Basic and diluted earnings per class P shares from continuing operations was USD 1.15 compared to USD 0.56 a year ago. Total basic and diluted earnings per common share was USD 1.15 compared to USD 0.35 a year ago. Debt, net of cash was USD 9,830 million compared to USD 10,230 million a year ago. Sustaining capital expenditure was USD 405 million compared to USD 393 million a year ago.
The board of directors declared a quarterly dividend of USD 0.41 per share (USD 1.64 annualized), which is payable on Feb. 18, 2014, to shareholders of record as of Jan. 31, 2014.
The company also expects to declare dividends of USD 1.72 per share for 2014, an 8% increase over its 2013 declared dividend of USD 1.60 per share.
Kinder Morgan, Inc. specializes in transporting and storing oil and gas. Net sales (including intragroup) break down by activity as follows:
- transport, processing and storage of natural gas (70.2%);
- transport of refined oil products (13.5%): gasoline, diesel, liquefied natural gas (LNG), etc.;
- transshipment and storage of petroleum products, dry and liquid bulk services (10.3%): fuel, coal, petroleum coke, cement, alumina, salt, chemical products, etc.;
- transport and sale of carbon dioxide (6%). The group also develops crude oil production activity in the Permian Basin in West Texas.
The United States accounts for 99.2% of net sales.
Kinder Morgan, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Declares Quarterly Cash Dividend Payable on February 18, 2014; Provides Dividend Guidance for 2014
KINDER MORGAN, INC. 
